Benderson picks up Sarasota shopping center for $30.5 million
By Ashley Gurbal Kritzer
Tampa Bay Business Journal
Published: Jan 17, 2024

Sarasota’s most prolific developer has added another shopping center to its portfolio.

Benderson Development said Tuesday that it closed on Glengary Shoppes, a 95,489-square-foot shopping center on South Tamiami Trail in Sarasota. The property is 97% leased, Benderson said, and tenants include national brands like Best Buy and Barnes & Noble.

The sale closed Jan. 5, property records show, and the sales price was $30.5 million. The seller was Jacksonville-based Regency Centers, a publicly traded real estate investment trust specializing in shopping centers.

Brad Peterson and Whitaker Leonhardt of Colliers handled both sides of the transaction.

“This transaction illustrates the reach and connections of the Colliers capital markets platform, working with institutional firms on the most important assets in some of the most dynamic markets,” Peterson, Colliers vice chair, said in a statement.

The acquisition adds to Benderson’s concentration of properties in the immediate area, including Crossings at Siesta Key, formerly known as Westfield Siesta Key; Publix Super Markets Inc.-anchored The Landings; and Promenade Siesta Key, which will break ground soon, the developer said.

Benderson’s portfolio includes more than 800 properties totaling over 54 million square feet in 41 states. It has added over 10 million square feet and $2 billion worth of real estate to its portfolio in the last few years. It recently closed on Monarch Ranch, a 3,400-acre industrial property in Sumter County.